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Hotel tycoon Ong Beng Seng (who owns the franchise for the Formula 1 Singapore Grand Prix) pleaded guilty to teaching a senior politician to obstruct justice.
While Ong, 79, could be jailed for up to seven years and fined, or be given both, for the offences, his lawyer asked the judge for leniency given the tycoon’s medical condition.
While Ong accompanied his lawyer in court this morning, his family was not present. “Mr. Ong’s family has stood by him throughout this ordeal, and he did not wish to prolong the toll it has taken on them by having them present in court today,” a spokesperson for the Malaysian-born tycoon said.
ONG, currently on bail, is expected to be sentenced to his sentence on August 15. He resigned as managing director of hotel real estate in April.
Ong and his wife Christina have a total net worth of $1.7 billion. Their hotel properties have a large portfolio of assets in 15 countries, including Four Seasons Hotel in Singapore and resorts in the Maldives. The developer said last month it’s in talks with potential partners to redevelop three of its adjoining prime properties on Orchard Road, Singapore’s main shopping strip.
